Freight service company Africa Global Logistics (AGL) has signed a €230 million financing agreement to expand the container terminal at the Autonomous Port of Pointe-Noire (PAPN) in the Republic of Congo.
Funding will support the construction of a new 750m-long quay, which will cover an area of 28 hectares with a depth of 17m. With project is expected to be completed by 2027 and will require a total investment of €361 million.
Funding for the project was led by local financial institution Crédit du Congo and Moroccan financial group Attijariwafa Bank, with participation from EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l’Afrique and BGFIBank Congo.
“This is the first private sector project of this scale to be financed in Congo,” stated Hicham Fadili, CEO of Crédit du Congo, adding, “It reflects the commitment of local banks to support economic growth, benefiting clients, the local community, and all economic stakeholders.”
